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|Table ofContents|Table ofContents|Table ofContents||
|---|---|---|---|
|Chair ofCouncil Introduction||||
|Mission Director's
Introduction||||
|Directors and Trustees' Report|||5-24|
|Our Objectives and Values||||
|Executive Report|||6-16|
|Who has left?||||
|Recruitments||||
|Organisational
Changes||||
|Permanent
Chaplaincies||||
|New Work||||
|Resort Ministry|||10-12|
|2020 —a year offaithfulness||and frustration||
|In Summary||||
|Communications|||12-13|
|Social Media||||
|Property|||13-14|
|The properties
we own||||
|Notable Transactions||||
|Future Plans|||14-15|
|COVID-194+2 Interim Strategy||||
|Plus 2||||
|Partn erships|||15-16|
|Volunteers||||
|Treasurer's
Report|||17-19|
|Governance
and Council|||20-23|
|How we are Structured|||24|
|Independent
Auditors|Report||25-27|
|Statement ofFinancial|Activities||28|
|Balance Sheet|||29|
|Statement ofCash Flows||||
|Notes to the Accounts|||31-41|
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|How we|are structured|are structured|||||
|---|---|---|---|---|---|---|
|Patron||Vacant|||||
|Vice-Patrons||The Archbishopof
Canterbury|||The Archbishop ofArmagh||
|||TheArchbishopof
York|||||
|President||Vacant|||||
|Council Members||The Revd
LJ Biggs|||The Revd F0Olokose||
|||(Ap pointed 11September 2020)|||The Revd M 8 Sanders||
|||Mr JCarter|||The Rt Revd H WScrive n||
|||The Revd M N Dale|||(Resigned 12September 2020)||
|||Ms E Dumain|||Mrs E D Skudder||
|||(Co-opted 22November 2019,|||Mrs 5VThomas||
|||Appointed11 September2020)|||(Resigned 11September2020)||
|||The Very Revd Dr 5J Hance|||Mrs A CTyndall (Vice-Chair)||
|||Mr RA Hoyle|||Mr C5Weller (Hon Treasurer)||
|||The Rt Revd R CJackson (Chair)|||Mr D M White||
|||The RevdK D Mentzel|||The Revd Canon Dr G|I Wilton|
|||(Appointed11September2020)|||The Very Revd T Wright||
|Key Management||The Council Membersand|Mission Director —The Revd RW Bromley||||
|Personne|I||||||
|Company||The Revd R W Bromley|||||
|Secretary|||||||
|Solicitors||Moore Barlow LLP|||||
|||Concord House|||||
|||165 Church Street East|||||
|||WOKING
GU216HJ|||||
|Registered||Jacob Cave nagh grSkeet|||||
|Auditors||5 Robin Hood Lane|||||
|||SUTTON SM12SW|||||
|Principal Bankers||Barclays Bank pic|||||
|||100 Fenchurch Street|||||
|||LONDON
ECSMSJD|||||
|Investment||CCLA Investment
IVianagement||Ltd|Ruffer LLP||
|Advisers||Senator House|||80 Victoria Street||
|||85 Queen Victoria Street|||LONDON||
|||LONDON
EC4V 4ET|||SW1E 5JL||
||||||Forand on behalf ofthe Council||
|Unit 11, Ensign Business Centre|||||||
|Westwood|Way||||||
|Westwood|Business|Park|||||
|COVENTRY|||||||
|CV4 BJA|||||||
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|||Unrestricted|Restricted|Endowment|Endowment|Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|
|||Funds|Funds|Funds||2020|2019|
||Note|f||E||E|E|
|Income from:||||||||
|Donations
and legacies|2 (a)|228,322|206,972|||435,294|409,899|
|Investment
income|2 (b)|54,097|1,817|||55,914|64,803|
|Charitable
activities|2 (c)|2,681||||2,681|13,121|
|Other trading
activities|2 (d)|3,693||||3,693|3,043|
|Other income|2 (e)|66||||66|613|
|Total||288,859|208,789|||497,648|491,479|
|Expenditure
on:||||||||
|Charitable
activities||||||||
|New Mission work|3 (a)|45,376|26,030|||71,406|105,277|
|Ongoing
Mission work|3 (b)|2S8,701|167,819|||426,520|405,929|
|Raising funds|3 (c)|55,698|2,957|||58,655|72,085|
|Property Project|3 (d)|14,462||||14,462|15,509|
|Social Media Project|3 (e)|10,145||||10,145|11,328|
|Total||384,382|196,806|||581,188|610,128|
|Net gains/(losses)
on investments|2(f)|196,836||59,163||255,999|282,447|
|Net income/(expenditure)||101,313|11,983|59,163||172,459|163,798|
|Transfers between
funds|12|(43,033)|43,033|||||
|Net movement
in funds||58,280|55,016|59,163||172,459|163,798|
|Balances brought
forward 1stJanuary 2020||1,973,754|219,962|744,665||2,938,381|2,774,583|
|Balances carried forward||||||||
|31stDecember 2020||2,032,034|274,978|803,828||3,110,840|2,938,381|
|Analysis ofnet assets by fund||||||||
|Fixed assets||2,046,199||803,048||2,849,247|2,661,218|
|Current assets||7,445|274,978||780|283,203|303,157|
|Liabilities||(21,610)||||(21,610)|(25,994)|
|||2,032,034|274,978|803,828||3,110,840|2,938,381|
|Analysis ofnet assets byfund 2019||||||||
|Fixed assets||1,917,333||743,885||2,661,218||
|Current assets||82,415|219,962||780|303,157||
|Current
liabi/ities||(25,994)||||(25,994)||
|||1,973,754|219,962|744,|665|2,938,381||
||||2020|2019|
|---|---|---|---|---|
|||Note|||
|Fixed assets|||||
|Tangible fixed assets||6|152,721|159,694|
|Investments||7|2,696,526|2,501,524|
||||2,849,247|2,661,218|
|Current assets|||||
|Debtors||8|89,011|91,487|
|Cash held with investment|Managers|7|144,424|150,587|
|Cash at bank and in hand|||49,768|61,083|
||||283,203|303,157|
|Creditors: falling due within one year|||21,610|25,994|
|Net current assets|||261,593|277,163|
|Total assets less current liabilities|||3,110,840|2,938,381|
|Creditors: falling due after|more than one year|9|||
|Net assets||10|3,110,840|2,938,381|
|Income funds|||||
|Unrestricted
funds|||||
|General free reserves|||1,005,432|903,160|
|Designated||11|1,026,602|1,070,594|
||||2,032,034|1,973,754|
|Restricted
funds||12|274,978|219,962|
|Capital funds|||||
|Endowments||13|803,828|744,665|
|Total Charity funds|||3,110,840|2,938,381|
||||2020||2019|
|---|---|---|---|---|---|
|Cash flows from operating
activities:||||||
|Net cash provided
by (used in) operating|activities||Note (a)|(130,018)|(181,628)|
|Returns on investments
and servicing of|finance|||||
|Investment
income|||SS,914||64,803|
|Investment
Manager costs|||(4,879)||(10,204)|
|||||51,035|54,599|
|Capital expenditure
and income||||||
|Payments
to acquire tangible
fixed assets|||||(1,138)|
|Released from disposal offixed assets|||508|||
|Payments
to aquire investments|||(1,519,604)||(1,056,259)|
|Receipts from sale of investments|||1,580,601||1,115,559|
|||||61,505|58,162|
|Increase/(Decrease)
in cash
Note (b)||||(17,478)|(68,867)|
|(a) Reconciliation
ofincome/(expenditure)|to net||cash flow from operating|activities||
|Net income/(expenditure)
for the period|(as per|the statement||172,459|163,798|
|offinancial
activities)||||||
|Adjustments
for:||||||
|Depreciation
charges||||6,465|7,016|
|Investment
income||||(55,914)|(64,803)|
|(Gains)/losses
on Investments||||(255,999)|(282,447)|
|Investment
Manager costs||||4,879|10,204|
|(Increase)/Decrease
in debtors||||2,476|28,153|
|Increase/(Decrease)
in creditors||||(4,384)|(43,549)|
|Net cash provided
by (used in) operating|activities|||(130,018)|(181,628)|
|(b) Analysis of changes
in net debt||||||
||||At 31st|Cash|At 31st|
|||December||flows|December|
||||2019||2020|
||||6|||
|Cash at bank and in hand|||61,083|(11,315)|49,768|
|Cash held with Investment
Managers|||150,587|(6,163)|144,424|
|Total|||211,670|(17,478)|194,192|
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|||||||
|---|---|---|---|---|---|
|inc|ome|||2020||
|||Unrestricted|Restricted|Endowment|Total|
|(a)|Donations
and legacies|||E|E|
||Subscriptions
and donations|139,980|202,152||342,132|
||Donations
from churches|2,828|4,550||7,378|
||Donations
from chaplaincies|27,068|270||27,338|
||Resort mission collections|5,381|||5,381|
||Legacies receivable|50,500|||50,500|
||Receipts from donations ofstamp collections|2,565|||2,565|
|||228,322|206,972||435,294|
|(b)|Investment
income|||||
||UK sourced|50,822|1,817||52,639|
||Overseas sourced|3,27S|||3,275|
|||54,097|1,817||55,914|
|(c)|Charitable
activities|||||
||Chaplains'
conference|2,681|||2,681|
|(d)|Other trading
activities|||||
||Greeting card sales|3,693|||3,693|
|(e)|Other income|||||
||Sundry income|66|||66|
||TOTAL INCOME|288,859|208,789||497,648|
|(f)|Net gains/(losses)
on investments|196,836||59,163|255,999|
|||||2019||
|(a)|Donations
and legacies|unrestricted
E|Restricted
E|Endowment
E|Totalf|
||Subscriptions
and donations|116,928|177,391||294,319|
||Donations
from churches|11,235|7,139||18,374|
||Donations
from chaplaincies|24,083|||24,083|
||Resort mission collections|21,838|||21,838|
||Legacies receivable|49,057|||49,057|
||Receipts from donations ofstamp collections|2,228|||2,228|
|||225,369|184,530||409,899|
|(b)|Investment
income|||||
||UK sourced|58,279|2,062||60,341|
||Overseas sourced|4,462|||4,462|
|||62,741|2,062||64,803|
|(c)|Charitable
activities|||||
||Chaplains'
conference|13,121|||13,121|
|(d)|Other trading activities|||||
||Greeting
card sales|3,043|||3,043|
|(e)|Other income|||||
||Sundry income|613|||613|
||TOTAL INCOME|304,887|186,592||491,479|
|(f)|Net gains/(losses)
on investments|164,223||118,224|282,447|
##
|3|Expenditure|Expenditure||||2020|||2019||
|---|---|---|---|---|---|---|---|---|---|---|
|||Charitable
activities|||Unrestricted
f|Restricted
f|Total
f|Unrestricted
f|Restricted
f|Totalf|
||(a)|New Mission work|||||||||
|||Brussels Outreach|Worker|||5,604|5,604||11,356|11,356|
|||Algiers|||||||31|31|
|||Cairo|||||13||103|103|
|||North Africa|||||||341|341|
|||Tunis||||36|36||||
|||Izmir||||10,195|10,195||9,938|9,938|
|||Bordeaux|||7,218||7,218|14,737||14,737|
|||Ostend / Kortrijk||||||3,000||3,000|
|||Rotterdam|||13333||13333|13,333||13,333|
|||Schiphol Airport|||7,829||7,829|10,279||10,279|
|||Resort - Corfu|||200||200|4,579||4,579|
|||Staff and support costs (see below)|||16,796|10,182|26,978|22,953|14,627|37,580|
||||||45,376|26,030|71,406|68,881|36,396|105,277|
|||Charitable
activities|||||||||
||(b)|Ongoing
Mission work|||||||||
|||Permanent
chaplaincies|||7,853|131,788|139,641|27,764|114,903|142,667|
|||Resort missions|||24,189|11,171|35,360|30,660|1,432|32,092|
|||Staff and support costs (see below)|||226,659|24,860|251,519|209,310|21,860|231,170|
||||||258,701|167,819|426,520|267,734|138,195|405,929|
||(c)|Raising funds|||||||||
|||Fundraising
costs|||1,874|439|2.313|2,529|476|3,005|
|||Fundraising
trading|costs||3,778||3,778|2,570||2,570|
|||Investment
management||costs|4,879||4,879|10,204||10,204|
|||Staff and support costs (see below)|||45,167|2,518|47,685|54,072|2,234|56,306|
||||||55,698|2,957|58,655|69,375|2,710|72,085|
||(d)|Property
Portfolio project|||14,462||14,462|15,509||15,509|
||(e)|Social Media project|||10,145||10,145|11,328||11,328|
|||TOTAL EXPENDITURE|||384,382|196,806|581,188|432,827|177,301|610,128|
||Staff and support costs||||||||||
|||Salaries|||169,023|20,838|189,861|161,887|20,214|182,101|
|||National
insurance|||11,412|1,517|12,929|11,071|1,508|12,579|
|||Pension contributions|||32,501|3,746|36,247|18,136|2,410|20,546|
|||Other staff costs|||5,882|778|6,660|5,703|776|6,479|
|||Total staf costs|||218,818|26,879|245,697|196,797|24,908|221,705|
|||Premises|||17,727|2,178|19,905|19,843|2,511|22,354|
|||Travel|||4,669|262|4,931|19,043|1,709|20,752|
|||Communications|||24,424|2,599|27,023|25,755|3,311|29,066|
|||Governance
-Audit Costs|||6,056|744|6,800|5,954|754|6,708|
|||Other support costs|||41,535|4,898|46,433|45,780|5,528|51,308|
||||||313,229|37,560|350,789|313,172|38,721|351,893|
|||Apportioned
to actvities as||follows:|||||||
|||New Mission work|||16,796|10,182|26,978|22,953|14,627|37,580|
|||Ongoing
Mission work|||226,659|24,860|251,519|209,310|21.,860|231,170|
|||Raising funds|||45,167|2,518|47,685|54,072|2,234|56,306|
|||Property
Portfolio project|||14,462||14,462|15,509||15,509|
|||Social Media project|||10,145||10,145|11,328||11,328|
||||||313,229|37,560|350,789|313,172|38,721|351,893|
##
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|4|Net Income/(Expenditure)|Net Income/(Expenditure)||||
|---|---|---|---|---|---|
||This is stated after charging:|||2020|2019f|
||Auditors'
remuneration|for audit services||6,800|6,600|
||Auditors'
remuneration|for other services||1,771|1,795|
||Depreciation|||6,465|7,016|
||Operating
lease rentals|- land and buildings||10,000|10,000|
||Operating
lease rentals|- other equipment||3,092|2,961|
|5|Staff Costs and Council Members'||Expenses|||
|||||2020|2019|
|||||No.|No.|
||The average number of|employees
during the year was:||||
##
|expenses off694 (2019:f3,39
Fixed Assets|3)were reimbursed|to 10(2019:12|)Council Memb|ers
in the year.||
|---|---|---|---|---|---|
||Heritage|Leasehold|Freehold|||
|Cost|assets
E|Property
f|Property
E|Equipment|Total|
|At 01January 2020||192,475|85,084|59,844|337,403|
|Additions||||||
|Disposals||||(15,811)|(15,811)|
|At 31December 2020||192,475|85,084|44,033|321,592|
|Depreciation||||||
|At 01January 2020||97,262|26,508|53,939|177,709|
|Charge for the year||3,850|641|1,974|6,465|
|On disposals||||(15,303)|(15,303)|
|At 31December 2020||101,112|27,149|40,610|168,871|
|Net book value||||||
|At 31December 2020||91,363|57,935|3,423|152,721|
|At 31December 2019||95,213|58,576|5,905|159,694|
##
|No|tes to the A|ccou|nts|for the|year ended 31December 2020|(continued)||
|---|---|---|---|---|---|---|---|
|7|Investments|||||||
|||||||2020|2019|
||Quoted investments|||||E|f|
||Brought forward|||||2,501,524|2,278,377|
||Additions|||||1,519,604|1,056,259|
||Disposals|||||(1,580,601)|(1,115,559)|
||Net realised gains|||||68,299|13,075|
|||||||2,508,826|2,232,152|
||Net unrealised|gains||||187,700|269,372|
||Quoted investments||at fair value||carried forward|2,696,526|2,501,524|
||Cash held by Investment|||Manager|||23,881|
||Cash held at CCLA|||||144,424|126,706|
|||||||2,840,950|2,652,111|
|8|Debtors|||||||
|||||||2020
f|2019
f|
||Income tax recoverable|||||20,443|9,961|
||Other debtors|||||1,093|201|
||Prepayments|and accrued income||||67,475|81,325|
|||||||89,011|91,487|
|9|Creditors|||||||
|||||||2020|2019|
|||||||f||
||Provisions for|trade|creditors|||21,610|25,994|
||Accruals for expenditure|||payable|falling due within one year|||
||Accruals for expenditure|||payable|falling due after one year|||
|||||||21,610|25,994|
##
|The balances|carried forward
on the various fund|s are held as follows:||||
|---|---|---|---|---|---|
|||||Current||
|2020||Tangible||assets less|2020|
|||fixed assets|Investments|liabilities|Total|
||||E|E|f|
|Unrestricted|General free reserve funds||1,019,597|(14,165)|1,005,432|
|Designated|funds|152,721|873,881||1,026,602|
|Restricted funds||||274,978|274,978|
|Endowments|||803,048|780|803,828|
|||152,721|2,696,526|261,593|3,110,840|
|2019||||Current||
|||Tangible||assets less|2019|
|||fixed assets
f|Investments|liabilities
f|Totalf|
|Unrestricted|General free reserve funds||846,739|56,421|903,160|
|Designated funds||159,694|910,900||1,070,594|
|Restricted funds||||219,962|219,962|
|Endowments|||743,885|780|744,665|
|||159,694|2,501,524|277,163|2,938,381|
##
##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2020||||||Net||Balance|Balance|
|||||Income|Expenditure|Income/|Transfers|brought|carried|
|||||||(Expenditure)||forward|forward|
|||||||E|E|E|E|
|Fixed asset|reserve||||||(6,973)|159,694|152,721|
|Operational|reserve||||||(7,660)|9,291|1,631|
|Chaplaincies|reserve|||||||150,000|150,000|
|Mission Partnerships|||reserve||||(29,359)|51,609|22,250|
|Loans reserve||||||||200,000|200,000|
|Investment|diminution||reserve|||||200,000|200,000|
|Property
reserve||||||||300,000|300,000|
||||||||(43,992)|1,070,594|1,026,602|
|2019||||||Net||Balance|Balance|
|||||Income|Expenditure|Income/|Transfers|brought|carried|
||||||E|(Expenditure)
E|E|forward
f|forward
f|
|Fixed asset|reserve||||||(5,878)|165,572|159,694|
|Operational|reserve||||||(8,358)|17,649|9,291|
|Chaplaincies|reserve|||||||150,000|150,000|
|Mission Partnershi||ps|reserve||||(47,161)|98,770|51,609|
|Loans reserve||||||||200,000|200,000|
|Investment|diminution||reserve||||79,722|120,278|200,000|
|Property reserve||||||||300,000|300,000|
||||||||18,325|1,052,269|1,070,594|
##
##
|Restricted
Funds||||||||
|---|---|---|---|---|---|---|---|
|2020||Mission|Mission|||||
|||Partnerships|Partnerships|St Bernard's|St Peter' s|Chaplaincy|Total Funds|
|||Europe|N. Africa|Wengen|Zermatt|Work|2020|
|||f|f|f|f|||
|Total Income||13,120|12,294|3,745|25,815|153,815|208,789|
|Total Expenditure||16,7SO|9,884|12.772|4,430|152,970|196,806|
|Net income/(expenditure)||(3,630)|2,410|(9,027)|21,38S|845|11,983|
|Transfers from General|Fund|5,986|9,835|2,742|3,289|21,181|43,033|
|Net movement
in funds||2,356|12,24S|(6,285)|24,674|22,026|55,016|
|Balances brought forward||||||||
|1stJanuary 2020||16,434|254002|31,846|11,224|135,456|219,962|
|Balances carried forward||||||||
|31st December 2020||18790|37 247|25 561|35 898|157 482|274 978|
|2019||Mission|Mission|||||
|||Partnerships|Partnerships|StBernard's|St Peter' s|Chaplaincy|Total Funds|
|||Europe|N. Africa|Wengen|Zermatt|Irirork|2019|
|||f||f|f|f|f|
|Total income||4,039|10,396|22,245|5,706|144,206|186,592|
|Total Expenditure||23,949|13,039|2,726|4,046|133,541|177,301|
|Net income/(expenditure)||(19,910)|(2,643)|19,519|1,660|10,665|9,291|
|Transfers from General Fund||13,192|12,564|2,614|2,726|18,639|49,735|
|Net movementin
funds||(6,718)|9,921|22,133|4,386|29,304|59,026|
|Balances brought forward||||||||
|1stJanuary 2019||23,152|15,081|9,713|6,838|106,152|160,936|
|Balances carried forward||||||||
|31stDecember 2019||16434|25002|31846|11224|135456|219962|
##
|Endowments|||||
|---|---|---|---|---|
||||2020|2019|
|Income|||||
|Total Income|||||
|Expenditure|||||
|Total Expenditure|||||
|Net gains/(losses)|on investments||S9,163|118,224|
|Net income/(expenditure)|||59,163|118,224|
|Net movement
in funds|||59,163|118,224|
|Balances brought|forward|1stJanuary 2020|744,665|626,441|
|Balances carried forward||31stDecember 2020|803,828|744,665|
##
|||2020|2019|
|---|---|---|---|
|||6|6|
|Within one|year|12,394|12,394|
|Between 1|and 5years|23,390|34,374|
|After more|than 5years|||
|||35,784|46,768|
|The operating|lease charges for the year were:|2020
f|2019|
|Hire of Equipment||3,092|2,961|
|Rental||10,000|10,000|
|||13,092|12,961|
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|||2020|2020|2020|2019|2019|2019|
|---|---|---|---|---|---|---|---|
|||CBF|COIF|Total|CBF|COIF|Total|
|||Funds|Funds|Funds|Fundsf|Funds|Fundsf|
|Holy Trinity,|Cannes|10,982||10,982|10,936||10,936|
|St.Michael's,|Paris||220,205|Z20,205||207,110|207,110|
|||10,982|220,205|231,187|10,936|207,110|218,046|
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